U.S gasoline supply up 3 million barrels: API

SAN FRANCISCO (MarketWatch) -- Gasoline supplies unexpectedly climbed for the week ended May 17, according to data from the American Petroleum Institute issued late Tuesday. Gasoline supplies rose 3 million barrels, while a Platts survey of analysts showed a forecast for a 200,000-barrel decline. Crude inventories added 532,000 barrels, compared with expectations for a drawdown of 1.2 million barrels. Distillate stockpiles rose by 459,000 barrels compared with analyst expectations for a 1.1 million-barrel climb. The API data come ahead of the more closely watched U.S. Energy Information Administration report due Wednesday. Ahead of the API report, the June futures contract for crudeCLM3, -0.83%
which expired at the Nymex close, fell 0.6% to settle at $96.16 a barrel.

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